Why QuickBooks is Important for a Business Owner to Use

By Kevin Hansen, Vested Business Brokers
QuickBooks for Owners

As a business owner who has been in operations for many years, you know that the days of calculators, and paper payroll management are gone. Everything you need as a business owner is in one form of software or another. Over the years it may have been overwhelming to make the cyber switch, but with some practice, it has probably proved to be a rather useful one. One of the most popular business software programs that exist is undoubtedly QuickBooks. This is a program that is not just for accountants anymore! QuickBooks can be a vital tool for the business owner as well. Read on for some examples of why QuickBooks is important for a business owner.

Controlling Your Capital

One of the major struggles an owner has as their business grows is delegating the control of cash flow to another employee. It is perfectly natural to want to know exactly where your money is going, and how it is getting there. With QuickBooks, you are able to keep tabs on just that! It is important, however, that you manage your daily transactions in QuickBooks yourself, so everything adds up. But once you become an expert with this program, you will be able to see how the money comes and how it goes.

Employee Management

When it comes to time management, QuickBooks can be a time or money saver. If you have someone working an extra job, or overtime, for example, it is easy for you to enter that information yourself when your Accounts Payable department might not be at the ready. In QuickBooks, you are able to enter one time payments, or you may choose to use a weekly timesheet for recurring jobs or long term freelancers. QuickBooks is super helpful when it comes to tracking the time and productivity for your employees, especially when you are using a do it yourself approach.

Organization

As a successful business owner, you already know that proper organization skills are a must have attribute. It is important that all of your information be stored in a streamlined manner. QuickBooks is a strong tool for organizational skills. From online banking, to printing checks, and keeping aware of transactions, QuickBooks leaves no stone left unturned. This is especially helpful when you encounter transactions with which you are not familiar. If you are running things yourself, or have an accounting department, you are able to keep tabs on all transactions. The “ask my accountant code” in your QuickBooks chart of accounts is quite helpful for issues like this. When you need to enter a transaction, or reconcile it, QuickBooks helps you keep your money, and your time, nicely organized.

QuickBooks has proved to be a vital program for business owners for years. If you are still pulling out your hair by organizing things on paper or basic computer programs, you should absolutely consider switching to QuickBooks to save yourself stress, time, and money!

Vested Business Broker- Jim Aloi

“I recently had the unique pleasure of working with Jim Aloi, your senior business broker. I wanted you to know that Jim’s professionalism and patience allowed me to purchase my new business. He was great with helping me with my negotiations and resolving tough issues. I wish him continued success and will recommend him to all my friends and business partners. Having dealt with Jim for the last 3 months, I know for a fact that, you are lucky to have him in your firm.”

– Reggie Sethi
Farmingville, NY

We are Vested Business Brokers

Buying a Laundromat

There’s a particular business you can own and operate that will consistently turn quarters into thousands of dollars.  It’s a stable, profit churning business that only requires your presence on a part-time basis.  A business rooted in taking care of one of life’s basic necessities, which safeguards it from even the worst of economic downturns.  This is an industry where there are virtually no sales tactics or persuasion skills needed in order to get customers.  In case you were wondering, the business that is being described is…The Laundromat.

 The pro versus con list of owning a Laundromat heavily favors the pro side.  This business is SAFE because it’s not influenced by the economy.  The simple fact is people need to clean their clothes regardless of the country’s economic state.  Then there’s the age-old adage of ‘location, location, location.’  Well, Laundromats can be successful and profitable in most communities.  However, in neighborhoods with high rental occupancies, this business is exceptional.   Typically, running a successful business can take a big chunk out of your personal time.  Laundromats are different.  As individuals who own Laundromats can attest, the beauty is the part-time hours.  According to Brian Brunckhorst of www.buyalaundromat.com “if run properly, a Laundromat should only require 5 to 15 hours a week of your time.  Don’t waste your time getting a second job, instead own a part-time business and a Launderette is truly one that can be run part-time.”   More so, Laundromats do not require you to roll up your sleeves and sweat in order for you to earn your money.  This is one of the few businesses where your customers are doing all of the labor and paying you!  Your job is solely to provide and maintain competent washers and dryers.  Finally, the most important reason to buy a Laundromat is that it is an ALL CASH BUSINESS.  Customers pay in cash in order to use your machines.  There are no checks, there are no debts, and there is no waiting.

  Laundromats are an amazing business and investment vehicle.  They don’t require experience or any special training and are simple to operate.  It’s an industry that only continues to grow and can provide you with an amazing opportunity to make money.

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